My Size removes Chief Growth Officer with 433,150 euro separation package

My Size, Inc. removed Borja Cembrero Saralegui from his role as Chief Growth Officer effective October 31, 2026. The company filed an 8-K with the U.S. Securities and Exchange Commission on October 26, 2026, disclosing that the Board of Directors approved the move on October 22, 2026, following a recommendation from the Compensation Committee. The filing states that Cembrero's departure was not the result of any disagreement with the company regarding its operations, policies, or practices.

Cembrero also served as Executive Director of Naiz Bespoke Technologies, S.L., a subsidiary of My Size. Naiz separately removed him from that position effective on the same date, pursuant to his Executive Director Agreement dated June 1, 2025. In connection with the separation, My Size, Naiz, and Cembrero entered into a Debt Acknowledgement and Payment Plan Agreement. The company and its subsidiary jointly and severally acknowledged an aggregate amount of €433,150.68, approximately $486,813, payable to Cembrero.

The acknowledged sum comprises several distinct components. It includes €228,493.15 in severance compensation and €18,904.11 as payment in lieu of notice. The total also covers €5,753.42 in accrued and unused vacation pay. Additionally, €180,000 is designated as consideration for a post-termination non-competition covenant spanning two years. The continued effectiveness of this non-competition clause is conditioned upon the payment of that specific amount.

The payment structure for the separation is split into two parts. €125,000 will be paid in cash through monthly installments running from November 2026 through August 2027. The parties agreed to negotiate in good faith a payment plan for the remaining €308,150.68. This balance may be satisfied in cash, in kind, or through a combination of both, including via the transfer of equity interests in an entity within the My Size group. If the parties fail to agree on this plan, the remaining balance becomes due and payable on August 18, 2027.

The agreement specifies that any amounts not paid when due will accrue interest at the applicable Spanish statutory rate. A payment default will trigger the acceleration of all outstanding amounts payable under the Separation Agreement. Notably, the current agreement does not include a release of claims. Instead, the parties agreed to enter into a final settlement agreement following the full payment of all amounts due. The full text of the Separation Agreement will be filed as an exhibit to My Size's Annual Report on Form 10-K for the year ended December 31, 2026.